The Last Tranche with Oaktree's Jones: why CLO equity is attractive again
In this episode of the Last Tranche, Oaktree's Madelaine Jones discusses why investors are finding CLO equity more attractive

The Last Tranche with YMER's Warzynski: we like primary equity again
In this episode of the Last Tranche, Hubert Warzynski, Partner and Co-founder of Scandinavian CLO investor YMER talks about why he likes primary European equity again, but only for a handful of managers.

The Last Tranche with Christine Ferris
In the latest edition of The Last Tranche podcast we talked to JP Morgan’s global head of CLO primary Christine Ferris about why she loves working with debut managers, despite the extra challenges they face coming to market.

The Last Tranche with JP Morgan's Ferris: new managers should focus on equity
In this episode of our podcast The Last Tranche, Christine Ferris, JP Morgan's Global Head of CLO Primary talks about why she loves working with debut managers, despite the extra challenges they face

The Last Tranche with Octagon's Lam: CLO equity makes sense again
In this episode of our podcast The Last Tranche, Octagon Credit Investors' new CEO Gretchen Lam discusses whether recent changes in the arb for US BSL CLOs is making third-party equity attractive again, and what that means for the market.

The Last Tranche with New Mountain's Kline and Moshiri: we have more flexibility than a typical CLO around industry selection
In this episode of The Last Tranche, John Kline and Cyrus Moshiri from New Mountain Capital discuss the innovative rated feeder fund structure they recently priced, and why they chose this approach over a traditional middle market CLO

The Last Tranche with Pearl Diver's Layton: its not about tiering, its about portfolio construction
In this episode of The Last Tranche, Matt Layton, partner and head of Europe at Pearl Diver Capital, discusses strategies for investing in CLO debt and equity amid the recent rally in liabilities

The Last Tranche with Sound Point's Desai: the wrong CLO equity investment strategies will see negative returns
In this episode of The Last Tranche, Ujjaval Desai, head of structured products investing at Sound Point Capital Management, shares his ideas about the investment opportunity across the CLO equity universe

The Last Tranche with Eagle Point's Ko: We haven't made a primary CLO equity investment in nine months
In this episode of The Last Tranche, Dan Ko, principal and portfolio manager at Eagle Point Credit Management, discusses the relative value opportunity in the CLO market

The Last Tranche with Blackstone's Zable: regional banking volatility could lead to tighter triple A pricing in CLOs
In this episode of the Last Tranche, Robert Zable, global head of Blackstone's liquid credit strategies, discusses the fallout of the regional banking crisis sparked by the collapse of Silicon Valley Bank on the CLO market

The Last Tranche with Octaura's Bejile: most mutual funds regard loans as illiquid because of long settlements
In the latest episode of The Last Tranche, Octaura's Bejile discusses his role in bringing electronic trading to the loan and CLO markets

The Last Tranche with MidOcean's Rotondo: retail bid is the wildcard in leveraged loan market
In this episode of the Last Tranche, Joe Rotondo, senior portfolio manager on the credit investments team at MidOcean Partners, looks back on a turbulent year for the leveraged loan asset class

The Last Tranche with AlbaCore's Cohen Malka: The UK gilts crisis showed the CLO market is more liquid than people thought
In this episode of The Last Tranche, Deborah Cohen Malka, partner and portfolio manager at AlbaCore Capital Group, discusses the performance and challenges facing the European CLO market

The Last Tranche with Bain's Wright: Manager consolidation will be likely as benefits of scale come to bear

In this episode of The Last Tranche, Bain Capital Credit managing director John Wright discusses the manager landscape in the CLO market

The Last Tranche with Octagon's Nechamkin: Investors were selling the larger loans that were easier to sell
In this episode of the Last Tranche, Mike Nechamkin, chief investment officer and senior portfolio manager at Octagon Credit Investors, discusses the reasons behind the recovery in loan prices in recent weeks

The Last Tranche with Sycamore Tree's Parker: It's a question of when, not if, a recession hits the US economy
In this episode of the Last Tranche, Trey Parker, co-founder and chief investment officer at Sycamore Tree Capital Partners, discusses the optimal way for a CLO manager to invest through an economic downturn

The Last Tranche with CVC's Bergstresser: CLO market will continue to function amid Ukraine crisis
In this episode of the Last Tranche, CVC Credit Partners partner and global head of performing credit Gretchen Bergstresser discusses the impact of Russia's invasion of Ukraine on the global loan and CLO markets

The Last Tranche with Napier Park's Secmen: tailwinds fuelling CLO market mask manager incompetence
In this episode of the Last Tranche, Serhan Secmen, head of US CLO investments at Napier Park Global Capital, joins to discuss how equity investors choose which managers to allocate to for the best long-term performance

The Last Tranche with New Mountain's Moshiri: New CLO managers may increase risk if they do not have stable equity capital
In this episode of the Last Tranche, New Mountain Capital's Cyrus Moshiri discusses the process of new firms entering into CLO management. Moshiri discusses whether an increase in new managers or consolidation is more likely, and how investors can analyse opportunities presented by upstart platforms

The Last Tranche with Capital Four: 26% of new European loans have an ESG-linked margin ratchet, and the US could follow fast
In this episode of the Last Tranche, Capital Four's Torben Skødeberg and Jim Wiant discuss the emergence of loans linked to environmental, social and governance (ESG) criteria

The Last Tranche with Bardin Hill's Raciti: For-profit prisons are classified as construction and have some of the best ESG scores
In this episode of the Last Tranche, Bardin Hill's Philip Raciti tells Creditflux that environmental, social and governance (ESG) is a growing risk factor for CLO managers

The Last Tranche with Tetragon's Michalczuk and Pang: Every missed quarterly payment can reduce CLO equity IRRs by up to 100bp
In this episode of the Last Tranche, Tetragon Credit Partners' Dagmara Michalczuk and Michael Pang tell Creditflux that CLOs that missed an equity payment during the covid-19 crisis in 2020 impacted returns by between 20 and 100 basis points

The Last Tranche with Antares' Seth Painter: we could start to see syndicated middle market CLO equity
In this episode of the Last Tranche, Antares Capital's Seth Painter tells Creditflux's Hugh Minch about the performance of private credit and middle market CLOs through the covid-19 crisis and recovery

The Last Tranche with Carlyle's Basmadjian: We are in expansion phase of new credit cycle
In this episode of the Last Tranche, Carlyle's Lauren Basmadjian and Creditflux's Hugh Minch discuss the performance of CLOs through the covid-19 dislocation

The Last Tranche with Pretium's Goss: airlines are barometer for reopening trade
In this episode of The Last Tranche, Pretium's Roberta Goss and Creditflux's Hugh Minch discuss how the effects of the vaccine rollout and economic reopening are showing in the loan market.